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Fears of a recession in the U.S. sent shockwaves through financial markets around the world on Monday. The Dow-Jones dropped 1,000 points by 10:30 a.m. Eastern time, the NASDAQ lost up to 6% of its value and Japanese stocks suffered their biggest crash since 1987, with the Nikkei 225 stock index dropping 12.4%. The turbulence should benefit the U.S. mortgage market , which has already seen big interest rate declines in the past week following a Fed meeting that teased forthcoming cuts to benchma
A new analysis from Zillow has found that luxury home value growth has now outpaced appreciation on typical homes for five consecutive months. The typical luxury home—defined by Zillow as the most valuable 5% of homes in a given region—is worth about $1,620,000. Among the 50 largest U.S. metro areas, the typical luxury home ranges from a low of just under $750,000 in Buffalo to more than $5.3 million in San Jose.
Seller impersonation fraud is on the rise. A study conducted by NDP Analytics found that 28% of title companies experienced at least one seller impersonation fraud attempt in 2023, and in April 2024 alone, 19% of firms experienced at least one of these attempts. The study, which was released on Monday, is based on a nationwide survey of 783 title companies.
At this year’s Five Star Conference 2024 , the Mortgage Servicing Forum will bring together experts from the loss mitigation and compliance space to discuss the impact this market will experience in an uncertain election year. The Mortgage Servicing Forum will bring together top mortgage servicing executives and government representatives to discuss the challenges facing the industry, while charting the best path forward.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
The global stock selloff that began overnight in Asia rolled through U.S. markets on Monday as the S&P 500 and the Dow Jones Industrial Average fell by 3% and 2.6%, respectively. While technology-sector darlings such as Nvidia and Apple got thumped the hardest, the real estate industry also took its fair share of lumps. But analysts believe that the sell-off, paired with a drop in interest rates, could produce mixed results for real estate.
As of Q2 2024, tappable equity in the U.S. housing market has surged to a record $11.5 trillion, with three out of five mortgage holders possessing at least $100,000 in equity they can borrow against, according to the August 2024 ICE Mortgage Monitor Report. Despite outstanding mortgage debt hitting an all-time high of $13.8 trillion in June, rising home prices have driven mortgage holder equity to a new peak of $17.6 trillion.
As of Q2 2024, tappable equity in the U.S. housing market has surged to a record $11.5 trillion, with three out of five mortgage holders possessing at least $100,000 in equity they can borrow against, according to the August 2024 ICE Mortgage Monitor Report. Despite outstanding mortgage debt hitting an all-time high of $13.8 trillion in June, rising home prices have driven mortgage holder equity to a new peak of $17.6 trillion.
In less than two weeks , offers of compensation for buyers’ brokers will no longer be permitted on any MLS in the U.S, per the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement. While brokers across the country agree that they and their agents will no longer be advertising an offer of buyer broker compensation for any listing on the MLS, that is where the similarities end, as it seems each broker is taking a slightly different tact. eXp Real
A Redfin survey found that younger buyers are more willing to sacrifice safety, and overall, proximity to amenities was lower on the list of must-haves.
The acceleration of climate change has fueled more frequent and more severe natural disasters, but that isn’t keeping people away from high-risk parts of the country. A new report from Redfin shows that migration patterns in 2023 weren’t interrupted by the realities of climate change as moving trends appear to be driven by factors other than the risk of natural disasters.
The brokerage, which received praise for its new buyer and seller agreements, is sharing forms and scripts related to concessions and buy-side compensation.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Rising home prices managed to outpace an all-time high of $13.8 trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 trillion in the second quarter of 2024. On top of that, tappable home equity reached a new high of $11.5 trillion, a 4% gain compared to the first quarter and a 9.2% year-over-year increase, according to new data from ICE Mortgage Technology.
During the second quarter of 2024, the demand for distressed properties at auction displayed strong performance initially but showed signs of decline in June, even as the supply of available auction properties continued to contract, according to Auction.com’s latest Auction Market Dispatch report. “The demand slippage in late Q2 could be an early indication that local community developers buying at auction are becoming increasingly wary of rising retail inventory, which represents competition f
CreditXpert stands apart in the industry by offering innovative solutions that emphasize credit optimization over traditional credit repair. In this executive conversation with Mike Darne, VP of Marketing, we explore how CreditXpert is delivering precise credit optimization solutions and their commitment to making homeownership more accessible and affordable.
Wells Fargo Senior EVP and Head of Technology Bridget Engle Wells Fargo & Company has announced that Bridget Engle has been named Senior EVP and Head of Technology, reporting to Wells Fargo CEO Charlie Scharf and joining the company’s Operating Committee. Engle will be responsible for all technology across the company, and brings more than 30 years of experience managing large, global technology organizations in complex financial institutions.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Massachusetts Gov. Maura Healey (D) has signed a $57.8 billion state budget for 2025, which features several provisions designed to assist the state’s senior residents with health care, food assistance and aging-in-place provisions like home-based care. This is according to announcements by Healy’s office and AARP. Signed into law on July 29, the budget features support for several aging-specific programs advocated for by AARP.
Waterstone Mortgage Corporation VP of Accounting & Finance Jim Harper Pewaukee, Wisconsin-based national mortgage lender Waterstone Mortgage Corporation has named Jim Harper as the company’s new VP of Accounting & Finance, bringing more than 25 years of experience in the financial services industry to the position. Founded in 2000, the company is a wholly-owned subsidiary of WaterStone Bank SSB, which, in turn, is a wholly-owned subsidiary of Waterstone Financial Inc., and currently lend
Real estate technology firm Rechat announced a strategic partnership on Monday with Peerage Realty Partners that aims to expand tech tool and service offerings for Peerage agents and brokers. Peerage is a top-10 residential real estate services firm that operates across North America and is closely connected with Sotheby’s International Realty.
As the summer market heats up, it’s important to stay informed and inspired. Whether you’re running from one job to the next, taking a well-deserved break, or simply looking to expand your industry knowledge, a great book can be your perfect companion. Our 2024 Summer Reading List is packed with insightful and motivational reads to help you thrive in your field.
The National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have submitted a joint letter to Ginnie Mae acting president Sam Valverde, offering their thoughts and perspectives on the government-owned company’s proposed supplemental Home Equity Conversion Mortgage (HECM)-backed Securities ( HMBS ) program. That program, referred to by industry participants as “HMBS 2.0,” was initially announced as in development at the beginning of the year.
Candor Technology has launched PreQual, a patented borrower prequalification service that leverages artificial intelligence to deliver instant results and borrower insights across conventional and FHA loans. Traditional prequalification processes are often time-consuming and cumbersome, leading to delays and inefficiencies in the mortgage lending workflow.
Home equity lenders’ use of AVMs has increased significantly, a report from Corporate Settlement Solutions (CSS) shows. The report measures of the types of valuation products that lenders are using – including automated valuation model/property condition reports; appraiser-valued hybrids; full appraisals; non-appraiser-valued hybrids; and drive-by appraisals.
A Washington listing photographer said Zillow Gone Wild used her photo without permission in February 2022. After attempting to negotiate a payment of roughly $30,000, she's now suing for a maximum judgment of $300,000.
Home equity held by U.S. mortgage borrowers hit an all-time high of $13.8 trillion in June, according to ICE Mortgage Technology’s Mortgage Monitor report. At the same time, outstanding mortgage debt also hit an all-time high in June – however, with rising home prices, the equity gains outpaced the increase in outstanding debt. Tappable equity – the amount a borrower can access while maintaining a healthy 20% equity cushion – also hit a new peak in June at $11.5 trillion, an increase of 4% comp
Consolidated Analytics (CA), a provider of comprehensive mortgage services and data analytics, has acquired the assets of Investor Claim Solutions (ICS), specializing in investor claims solutions and loss analysis recovery, for an undisclosed sum. This strategic asset-based acquisition marks a significant expansion of Consolidated Analytics’ service offerings, reinforcing its position as a premier provider of mortgage solutions.
Shares in Offerpad hit a new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in the third quarter.
MIAC Analytics , a provider of pricing, risk management, and accounting solutions for the mortgage and financial service industries, is now integrated with Fannie Mae’s Mission Score application programming interface (API) and Mission Score 2 and 3 product grids. Fannie Mae has designed its Mission Index framework to support its goal of providing affordability, liquidity, and stability to the housing market.
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Avoid costly surprises when buying property by addressing red flags in inspection reports. Learn why secondary inspections are crucial for high-risk issues.
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